Twenty years after flirting with disaster, the News Corp chief is on the verge of his biggest deal. A senior journalist says that we need more like him.

This article titled “Thank God for Rupert Murdoch” was written by Kelvin MacKenzie, for The Guardian on Thursday 30th June 2011 19.45 UTC

Two decades ago Rupert Murdoch was sitting at his desk in Wapping as a financial firestorm engulfed his company. The banks were baying at the door. A lethal mix of over-ambition and heavy investment in the nascent BSkyB had laid News Corporation low. Rupert said to me: “Not sure how this is going to end … just in case, I’ve paid up my mortgages.”

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